The Monetary Policy Committee (MPC) of the Bank of England held its normal monthly meeting yesterday, to discuss, amongst other things, the base rate of interest for loans and savings in the UK and it came as no great surprise to anyone that loan rates were kept on hold for another month.
The base rate of [...]
In these tough economic times, we are all being encouraged to tighten our belts and cut back on spending, as well as reducing the balance on any outstanding loans and other personal debts, using any spare cash to make regular overpayments on things like home owner loans and personal loans.
However, it appears that many people [...]
Interest rates on home owner loan and mortgage products from UK banks and building societies have steadily been getting cheaper over recent years and the last few months in particular, to the point where loan rates have now reached their lowest average level for the past six years, according to figures from the Bank of [...]
The Bank of England base rate of interest for savings and loans has now been at a historically low level of just 0.5 per cent for more than two and a half years now, with many borrowers accepting their current cheap loan rate as a normal thing.
For several months now, there has been much speculation [...]
Low levels of interest rates and particularly cheap loans at the moment are saving many borrowers from falling into loan arrears and having their properties repossessed, according to the latest news from the Building Societies Association (BSA).
Whilst speaking at the Labour Party conference earlier this week, Paul Broadhead of the BSA said that particularly low [...]
The Bank of England has now kept the base rate of interest for loans and savings at the historically low level of just 0.5 per cent for 30 consecutive months now and whilst many people with large, variable rate home owner loans and mortgages, welcome this decision, not everyone agrees.
A new report has just been [...]
The monthly cost of a typical variable rate home owner loan is to remain the same for yet another month, after the Bank of England made the decision to leave the base rate of interest for loans and savings unchanged once again.
The announcement was made at lunchtime yesterday (Thursday 8th September) following the regular monthly [...]
